Industry

Trade tensions continue to cloud oil outlook: Jadwa Investment

31457319737 984bdbdd70 z 1A new report by capital market firm Jadwa Investment stated that partly as a result of global trade tensions, OPEC now expects to see oil demand growth from the US, China (and India) declining on a yearly basis in 2020

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NPCC, Petrofac win offshore contract from ADNOC’s Al Yasat Petroleum

20758491906 47399a6260 zNational Petroleum Construction Company (NPCC) and Petrofac, along with its joint venture China National Petroleum Corporation (CNPC), have won a front-end engineering design (FEED) contract from ADNOC’s Group company Al Yasat Petroleum

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Greece’s Shipoil appoints Inatech to assist with IMO 2020 profit challenge

48155439756 41a4ae0cb4 zShipoil has appointed Inatech, a unit of Glencore, to digitalise its trading and supply operations as part of a strategy to prevent new low-sulphur emissions rules from 2020 eating into profits

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Middle East and Africa to hold significant revenue share in FSRU market

47476343062 8c3fc09e7e zThe projected value of the global Floating Storage Regasification Unit (FSRU) market in 2018 is US$1,217.9mn, and the market is estimated to reach US$2,380.3mn by 2026 with a CAGR of 8.7 per cent, according to a report on FSRU market by Persistence Market Research

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IEA monitoring Strait of Hormuz situation, stands ready to act if needed

oil tanker 23jThe International Energy Agency (IEA) is closely monitoring developments in the Strait of Hormuz including the recent seizure of a UK-flagged oil tanker and stands ready to act if needed

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